PPRuNe Forums - View Single Post - Leaving the UAE with car and property loans outstanding
Old 20th Aug 2020, 14:13
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FlyTCI
 
Join Date: Feb 2005
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Right or wrong and like it or not, you are playing on their playing field when down there, anyone going to that part of the world should be aware of that prior to packing the bags.

As WK said, too many come down and make way more money than they have ever done and go on a spending spree like there is no (gloomy) tomorrow and if that spending spree is based on loan and credit cards, well, then you are no longer a free man. It’s a gamble they are willing to make, but it can come at a big price. Did anyone predict being sent packing because of a virus? No. But, there are so many other things in that part of the world which can warrant a quick escape where being in debt is the last thing you want to be. Plan accordingly.

Even here in Europe I play by that rule. I have one rental unit which I can pay off tomorrow if I wanted to, everything else is in my name including three cars. After now having recently entered year two of unemployment that is something which comforts me when I go to bed at night. And no, I was not born with a silver spoon in my mouth, I have worked hard and not overspent despite having been on a good salary for the past five years (before my unemployment).

Disclaimer; I do not work for EK but I have lived in Dubai previously and my last job kept me in the UAE for weeks at a time, so I am well familiar with how things work in that region.
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